we'll get you the results from the retail giant and analysis from dana tellsy. plus, we'll tell you what to expect when cisco reports after the well. who is winning the ral? >> i won. i won the money. i won the money. did you hear mow? i say i won. it's here, right here. >> we'll continue our what's work series with stock picks from a top rated strategist and portfolio manager. >> and breaking economic data. >> a bunch of my economists are trying to bore me to death. >> the nerd. >> we'll get the producer price index for july at 8:30 a.m. eastern. >> the third hour of "squawk box" begins right now. >> welcome back to "squawk box" here on cnbc, first in business worldwide. i'm andrew ross sorkin along with becky quick. steve liesman with us and joe kernin on vacation and our guest host gives us perspective, dan colorusso. >> macy's out with earnings 72 cents a share and the street was looking for 78 cents and the comments from the company that acknowledged that this was a soft disappointment or soft -- softer than expected just in terms of that performance. they